Loan overview (from World Bank website)



This program document describes a single-tranche development policy loan (DPL) to the Republic of the Philippines for US$250 million. It is being proposed as the first of a programmatic series of three DPLs to support the Philippines' efforts to foster more inclusive growth by consolidating fiscal discipline, improving competitiveness, strengthening governance and promoting human capital accumulation. The need for more inclusive growth was made evident over the last decade, when the Philippines experienced a resurgence of economic growth that did not, however, translate into greater progress in poverty reduction. Recent analytical work suggests that an important obstacle to poverty reduction in these circumstances has been the country's high degrees of inequality in the distribution of income and in the access to public social services. At the same time, shortcomings in the provision of public infrastructure and social services undermine the sustainability of growth and the Government's ability to reduce inequality. 



Loan details as listed by World Bank's website


<table>
<tr>
<td>Approval Date</td><td>19-MAY-2011</td>
</tr>
<tr>
<td> Closing Date</td><td>31-MAR-2012 </td>
</tr>
<tr>

<td>Total Project Cost</td><td>**250 </td>
</tr>
<tr>

<td>Region</td><td>East Asia And Pacific </td>
</tr>
<tr>
<td>Major Sector (Sector) (%)</td><td>Public Administration, Law, and Justice (Central government administration) (56%)  Education (General education sector) (22%)  Health and other social services (Health) (11%)  Industry and trade (General industry and trade sector) (11%) </td>
</tr>
<tr>
<td>Themes (%)</td><td>Education for all (37%)  Tax policy and administration (25%)  Regulation and competition policy (13%)  Debt 
management and fiscal sustainability (13%)  Public expenditure, financial management and procurement (12%) </td>
</tr>
<tr>
<td>Environmental Category</td><td>N/A </td>
</tr>
<tr>
<td>Bank Team Lead</td><td>Lachler, Ulrich </td>
</tr>
<tr>
<td>Borrower/Recipient</td><td>REPUBLIC OF THE PHILIPPINES </td>
</tr>
<tr>
<td>Implementing Agency</td><td>N/A </td>
</tr>
</table>



* The project abstract is drawn from the PAD, SAR or PGD and may not accurately reflect the project's current nature.
 
**Total project cost includes funding from World Bank and non-bank sources in US$ millions. Active and Closed projects show commitment at Board approval. It does not reflect any cancellations. Proposed (pipeline) and dropped projects show the forecast amount. The commitment amount for projects in the pipeline is indicative and may be modified during the project preparation.



<a href="http://web.worldbank.org/external/projects/main?Projectid=P118931&theSitePK=40941&piPK=64290415&pagePK=64283627&menuPK=64282134&Type=Overview" target="_blank" class="news_link">Source: World Bank</a>

Philippines Development $250M Policy Loan to Foster More Inclusive Growth – World Bank